Florida’s Space Industries to Benefit from Investment Partnership
Space investing and a private equity firm AE Industrial Partners, LP is partnering with Space Florida to boost Florida's space industries.
“Our goal is to make Florida the gateway to space.”
Ron Lau.
The partnership aims to accelerate the growth of Florida’s aerospace and space industries, bringing in investment and creating job opportunities in the state. As part of the partnership, AE Industrial Partners will leverage Space Florida’s unique funding resources and expertise to help attract and invest in companies that are looking to expand or relocate to Florida. The partnership will also focus on developing a talent pipeline for the industry, building on Florida’s strong academic institutions and workforce development programs.
The combination of Space Florida’s deep industry expertise and innovative financial toolkit for space companies with AE Industrial Partners’ proven track record of success in aerospace, space, and defense investment aims to strengthen Florida’s position as a global leader in aerospace, space, and defense. Florida consistently ranks among the top five U.S. states for aerospace industry employment, with more than 17,000 aerospace-related companies based in Florida contributing $19 billion in revenues to the state’s economy. Space Florida alone had a $5.9 billion economic impact on the state since 2007, and is projected to have a $1.1 billion economic impact annually over the next five years.
Florida's Space Industries are a Major Economic Driver for the State
“The new space economy is expected to be a huge driver of highly skilled jobs over the coming decades, and we are excited to partner with Space Florida to attract new companies and jobs to Florida.” said Kirk Konert, Partner at AEI. “Our state has long been a hub for aerospace and defense, and we believe this partnership will help expand the aerospace and space industries in Florida, while driving significant innovation in the sector.”
“AE Industrial and Space Florida have worked together on multiple projects over the last several years. Space Florida has been a great partner to our portfolio companies, and we’re excited to formalize this partnership. Our goal is to streamline the financial tools that Space Florida offers and collaborate on innovative capital approaches to our deals from the formation stage through the life of our ownership.” said Jon Lusczakoski, Vice President at AEI.
“Space Florida is preparing for a future business climate where everything from manufacturing and energy production to tourism and other economic activity occurs in space at scale,” said Ron Lau, senior vice president, corporate development and capital programs for Space Florida. “Our goal is to make Florida the gateway to space. Strategic partnerships with leading financial institutions are key ways we more rapidly achieve that goal and fulfill our mission to solidify Florida’s dominance as the leading global entity for a global aerospace and space economy.”
(Source: Space Florida news release. Images from file)